Small Business Loans

Bank Statement loans, Small business loans, working capital loans, equipment loans, equipment refinance loans, and more are available from $5,000 to $150,000 quickly and easily for cash flow, expansions, advertising, inventory, taxes, equipment, or any reason against just your company’s sales, existing assets, or receivables, with realistic and very flexible credit requirements!

Why use alternative small business loan services?

  • Tough transactions are made routine through leaseback and bank statement loans program
  • Application is Fast and easy. Generally only a one page application.
  • Unsecured cash flow programs widely available!
  • Quick approval and funding process.   The revenue loan and gross sales loan are as fast as 2 to 3 business days.   The equipment refinance loans can be completed as
    quickly as 3 to 5 business days.
  • No upfront or processing fee.
  • Traditional programs have a high decline rate.   We have a high approval rate.
  • Your request will be handled by an experienced industry representative throughout the process.
  • You only have to be in business for 3 months for the business bank statement loan program.
  • Low credit scores accepted with no minimum credit scores for several programs.

Click below, or on our “Contact us” in the menu row at the top of the page and one of our highly experienced industry credit representatives will contact you to review your small business loans needs, funding options and immediately begin the funding process.

Call Toll Free: 855-787-1113  or Tel: 919-771-4177 today, or click here to Apply Today!

Small Business Loans Features:

  1. Sales Revenue based Cash Flow programs
    • All businesses have revenue and cash flow, which allows all businesses to pre-qualify.
  2. Asset Based program
    • Almost all businesses have either receivables, or equipment.    Medical equipment, construction equipment, machinery, industrial equipment and computer equipment can be used.

Frequently asked questions:

Question: Which of the small business loans does my business qualify for?

Answer: While the requirements may vary for each program, minimal requirements will allow you to pre-qualify for a number of programs.

Question: How much can we qualify for with one of these small business loans programs?

Answer:  The amount your business can qualify for depends on things such as business and personal credit, time in business, the amount of equipment owned, and the business’ gross sales.

Question: What if I need $100,000 instead of $50,000 and I only qualify for $50,000?  How can I get to the $100,000 total?

Answer: Since there are several funding programs available, you can get $50,000 under the first program funding, then get another $50,000 under a second program. If a customer wishes, they can get the first $50,000 under the equipment refinance program, then get the second $50,000 under the Gross Sales Program,  also known as the Bank Statement finance or Bank Statement lending program.

Question: Do you offer approvals that are just in the company name for which a guarantor is not required?

Answer: Yes, we offer what is referred to as “Corp Only” approvals. These are approvals for small business loans that are just in the company name. They are based on the time in business, business credit, and in some cases, bank statements or financial statements.  A business must have over 5 years in business, strong business credit and strong financials to qualify for this funding.

Sample Small Business Loans Transaction:

Reno Dental Associates requested $75,000 for remodeling and debt consolidation. They completed the online application including listing of their receivables and equipment, including Dental delivery stations, X-ray equipment and hand pieces.

Reno Dental was approved for $50,000 based on their equipment and time in business. Loan docs were E-Mailed to the customer. The customer return overnighted the original documentation. A final verbal phone verification was completed with the customer and funds were wired to the customer within 24 hours.

The customer still wanted more funding.  They provided their most recent 3 months business checking account statements and were approved for $30,000 based on their cash flow. Loan documents were E-mailed to the customer. The customer faxed back the completed loan documents. A final phone verbal confirmation was completed with the customer and funds were wired into their account within 48 hours. The customer obtained all the funding they needed.

Other advantages of our programs include significant tax advantages. Payments on the asset based loans may be 100% deductible. This program is set up in part as a lease which allows for this type of write off.

Assets are used as collateral but only a small part of the business owners assets are used for any transaction. In most cases, only a fraction of their equipment is used. This compares very favorably to most other programs for which either Real Estate, all of the company’s Accounts Receivables, or the entire assets of the business are held as collateral.

There are often significant tax advantages for the asset based program, comparable to the traditional home mortgage deduction. The equipment refinance is set up in part as a lease in many cases. This allows the customer to deduct the entire payment instead of just the interest portion of the payment. This give the customer additional options in lowering their net income figure.

Credit Corner – How valuable are Co-Signers? Co-signers are generally not as valuable to a loan application as most applicants think they are. The primary reason is that in many cases, co-signers are only offering their signature to help someone else obtain a loan. In these cases, the co-signer will not benefit from the loan, yet is taking a risk.   If the loan goes in arrears, the co-signer is looked at to repay the loan. In many of these cases, the co-signer is far less motivated to pay back funds that went to another person or another company. Lenders are well aware of this and often do not value co-signers as much as the owners or primary signers.

There are some exceptions to this. If the co-signer on one of the small business loans in the portfolio is the father or mother of the primary signer, or spouse of the primary signer, that often carries more weight than if they are not a close relative.    One exception to this is if the co-signer has a strong net worth.  If a Co-signer is offered and they have a strong net worth, then the lender will be more interested in accepting such a co-signer.    If a Co-Signer has a strong net worth and they want to back the primary signer, they should provide a personal financial statement.   This will make approval more likely and the borrowers may be able to negotiate better terms.

Small business loan resources

SBA Community Blog and Forum – Blog and Forums by the SBA, Small business administration. Questions can be asked and answers provided.

Learn more about the types of financing. Choose one of the funding categories to begin:

Thank you for visiting our small business loans resource page!

Market  Updates

If your business has Tractor-trailers and needs capital, it can get a loan against tractor-trailers or a loan against Semi-Trailers.   2 or more Tractor-Trailer Trucks are needed to get capital.   Loan amounts normally start at $10,000 and up.   There are several loan programs and resources available in the marketplace to get this type of financing.   Credit scores can be lower under this program.  Credit scores of the owner can be as low as 450 and still be able to qualify.

A company should make up a list and provide it to the lender to get a loan against 18-wheelers.   The trucks normally have to be free and clear.  The terms the customer can get are usually attractive because they are not short term and the collateral is valuable, so the lenders will give more attractive rates.

A one page application is completed along with an Equipment list.   The customer normally can get a decision within one or two days.   This type of business loan is closed within 1 or 2 weeks.

To get more information and resources for your business, call Tel: 919-771-4177.   Local and national programs are available to help companies across the country qualify.    Click on the Contact link to get more information. 

Loan using Semi-Trucks
loan against Tractor-Trailer

Loan amounts are based on roughly 2 to 1 collateral and on the wholesale value.   If a business has 2 Semi-Trucks and they are worth $100,000, the loan amount will probably be in the $40,000 to $50,000 range.  For customers in Canada, this financing is available and should be inquired on under a related program.
Canadian callers should ask for a “loan against a transport truck” or loan using a transport truck.

Online resources include an interest calculator.   Customers can type in the loan amount, the number of months and the monthly payment to find out the interest rate.

http://www.efunda.com/formulae/finance/loan_calculator.cfm

As an example, on a loan for $100,000 for 60 months with a payment of $2,163, the interest rate calculates to 10.77% with a total repay of $129,780.    Rates may be higher in most cases because the credits scores may be lower.

Loan against Semi-Truck
Loan using Semi-Truck

No other collateral is required.   If a company obtains this loan, a site inspection is normally done by the lender.  This may or may not have to be paid by the customer depending on the program.  Tips: The trucks have to be accessible and in working order.  A UCC filing is placed with the Department of Motor Vehicles in the State the business resides in.

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